News
High interest borrowings and 14 tax concessions that robbed country of revenue culminated in economic crisis
– CP General Secretary
By Rathindra Kuruwita
Sri Lankan governments, since 1977, had given 14 tax concessions during 42 years, and they had led to a decrease in state revenue and culminated in the 2022 economic crisis, Dr. G. Weerasinghe, General Secretary of the Communist Party of Sri Lanka (CPSL) said in Maharagama on MOnday.
Speaking at an event to mark the 80th anniversary of the CPSL and the launch of their manifesto, Idirimagin Idiriyata, Dr. Weerasinghe said that the state had lost non-tax revenue due to the privatisation of public ventures in the 1980s and 1990s.
“Almost all governments, since 1977, have followed policies that were inimical to the agriculture and manufacturing sectors. We moved to low paying and low-productivity service jobs. It is a well-known fact that all nations that joined the developed nations club in the last 60 years focused on labour intensive manufacturing and boosting agricultural productivity. This is the history of development, but we have decided to ignore it since 1977,” he said.
Dr. Weerasinghe said that the institutions set up to ensure adherence to the Washington Consensus, i.e. World Bank and the IMF dictates, had encouraged deindustrialization in Sri Lanka.
“In fact, a 2003 agreement we signed with the IMF says that the Sri Lankan government will not take steps to develop industrialization,” he said.
The CPSL General Secretary said that as the state had lost both tax and non-tax revenue, it was compelled to borrow, especially from the International Sovereign Bond (ISB) markets.
“We started borrowing from these markets in 2007. Up until 2015, we borrowed about 30 percent of our total debt from ISBs. Between 2015 and 2019, we borrowed over 13 billion US dollars from these markets. These bonds are held by companies based in the US and the EU. They are literally poli mudalalis (loan sharks). Borrowing from these markets has ruined us. However, there is a big campaign by the west and its local allies to place the blame on China,” he said.
The new CPSL manifesto presented an alternative model for development based on science and industrialisation, Dr. Weerasinghe said.
Three Sri Lankan leopard cubs that were born at the Singapore Zoo on Jan 1 have now made their public debut at the facility.
The two males and one female, born to mother Yala and father Asanka, are the first of their species yo be born at the Singapore Zoo. The last successful birth in Singapore was recorded at the Night Safari three decades ago.
The triplets, which are the pair’s first litter, are among around 80 Sri Lankan leopards in zoos worldwide.
The species is listed as vulnerable on the International Union for Conservation of Nature (IUCN) Red List, with fewer than 800 individuals estimated to remain in the wild.
Visitors can now see the triplets at the Wild Africa exhibit, said the Mandai Wildlife Group in a statement on April 16.
The cubs can be found in the exhibit with their mother daily until mid-May and, subsequently, every Wednesday, Saturday and Sunday.
Yala with her cubs in their nest box, a month after their birth on Jan 1. (Straits Times)
A leopard cub investigating a piece of meat suspended from a tree – one of the several enrichment items in the Wild Africa exhibit designed to keep the cats mentally and physically stimulated. (Straits Times)
Mandai Wildlife Group curator Anand Kumar said it took nearly three years and close collaboration across continents to bring together a compatible pair of Sri Lankan leopards.
(Straits Times)
https://www.straitstimes.com/singapore/singapore-zoos-first-sri-lankan-leopard-cubs-make-their-public-debut?ref=top-stories
The Sri Lanka Navy has seized a local multi- day fishing trawler, it’s four man crew together with a consignment suspected to be narcotics off the Southern Coast of the island.
The vessel is presently being escorted to the Dikowita fisheries harbour for further investigations and legal proceedings.
Latest News
Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern and Southern provinces and in Monaragala district
Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 15 April 2026, valid for 16 April 2026.
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.
Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491
Singapore Zoo’s first Sri Lankan leopard cubs make their public debut
Sri Lanka Navy seize multi day fishing craft suspected of smuggling narcotics
‘Sent to be killed’: How Russia forces migrants to fight in Ukraine
Babar Azam 71* helps Peshawar Zalmi extend lead at top
Trump threatens to fire Fed chair Jerome Powell if he doesn’t leave in May
Royal Challengers Bengaluru top the table after bowlers help thump Lucknow Super Giants
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News5 days agoCEB orders temporary shutdown of large rooftop solar systems
-
Features5 days agoFrom Royal College Platoon to National Cadet Corps: 145 years of discipline, leadership, and modern challenges
-
Business7 days agoIsraeli attack on Lebanon triggers local stock market volatility
-
Business7 days agoHNB Assurance marks 25 years with strategic transformation to ‘HNB Life’
-
Latest News4 days agoPNS TAIMUR & ASLAT arrive in Colombo
-
News6 days agoAnura Solomons passes away
-
Features5 days agoCIA’s hidden weapon in Iran
-
Latest News4 days agoPrasidh, Buttler set up comfortable win for Gujarat Titans